Scam Artists Want To Finance Your Next Car!

If you have shopped online for car loans recently you may have found hundreds of tempting offers. Many offers promise you guaranteed financing regardless of credit history, bankruptcy, divorce, and the end of the world … (well maybe we exaggerated that one a bit), but you get the idea.

Presently, over 100,000 people per day apply online to receive car loans from companies that promise financing with bad credit or no credit. What you need to be aware of is that not all of the websites out there are legitimate. If you are unfamiliar with the term, “Phishing Website” you should Google it today and learn what it is. You could be giving your information to someone that wants to steal your identity!

You might think, “Well if I have bad credit, then who cares if they steal it, won’t do any good for them anyhow.” That is not entirely accurate. Once they determine that your credit will not work, maybe your medical information will. Medical identity theft is rapidly growing due to increased health care costs and outrageous insurance premiums.

We recently heard of a victim who after applying for several car loans with no luck, and no return calls, she began receiving collection notices from a cancer treatment clinic in California. Since she lives in Maine, and is physically unable to travel, she got concerned.

Several months later, and several thousand dollars in attorney’s fees she found out that her social security number, income information, birth date, and other pertinent information was harvested from the internet and sold to scam artists that know how to generate medical insurance cards good enough to pass the “adequate” hospital screening process. All of this information harvesting was tracked to a website offering “guaranteed auto financing regardless of credit or income history”.

The worst part is her blood type was changed, because the person receiving cancer treatments on her information was type B and she was type A. Had she not caught this before going in for emergency treatment, she might have been pumped full of the wrong blood!

The moral of the story is, if you do not have the best credit and you want to get financing for a car or any other item, do some digging first to check on the credibility of the source you are working with. Your best bet will most likely be finding a dealership or local financing company that works with people to reestablish credit; or has other programs available that will fit your situation.

Chapter 7 Bankruptcy Car Loans

More now than ever before, many people are searching for chapter 7 bankruptcy car loans. With today’s economy, people find themselves filing chapter 7 bankruptcies to relieve themselves of too much debt.

When someone files for a chapter 7 bankruptcy they are filing with the court system asking that they be discharged from all unsecured debt. Unsecured debt includes such things as medical bills or credit cards.

Compare this to secured debts such as your home and your vehicle. Due to homestead protection laws your home is safe from your creditors acquiring it. With a chapter 7 bankruptcy, your car loan may need special consideration.

In some cases, people are finding that they must release their vehicle along with the discharge of other debts. This may be caused by a couple different situations. One reason may be that they have simply fallen too far on the payments. Or another reason may be because the monthly payment is simply too high to make and stay current with the new finances.

If this is the case for you, you may be in the market for chapter 7 bankruptcy car loans. These are considered sub-prime auto loans and you may be able to apply a few months after your discharge has occurred. Depending on some situations you may not have to wait this out and can apply as soon as you are discharged.

Because not all lenders work with those who have recently filed chapter 7 bankruptcies, it will require a little research to find a dealership that may offer you this specialty loan. Doing an internet search will help you locate a couple of resources near your home.

The next thing to do would be to take a good hard look at your new monthly budget and determine realistically what type of payment you can handle each month. Being prepared with this figure can help ensure you are not smooth talked by some salesman to buy a more expensive car. The biggest key after bankruptcy is to be sure that you live within your means and can make all your new payments on time.

Now collect a few pieces of documentation to bring with you when you visit a car dealer or auto consultant that offers chapter 7 bankruptcy loans. This would include a couple recent check stubs to show proof of your income. Also bring your driver’s license and proof of insurance. And the final thing to bring with would be a couple utility bills. This will serve as proof of residency.

You are now prepared to pay a visit to the dealership or the auto consultants office. Tell the salesperson your situation and the particular reasons that you had to file the bankruptcy in the first place. Ask them if there is anything else you can provide to help make the loan process a little better. Use the advice of the expert to give you the greatest chance at getting a chapter 7 bankruptcy auto loan.

Buying Cars – What, Where And How Of Availing Auto Loans

Many individuals send e-mails and mailers to inquire about the best way of buying a car through car buying services. The questions also include other issues such as how to find proper auto insurance, how to avail car loans, and how to avail best car loan rates. Some individuals desire to buy a cheap car to drive around and later sell it, while others want to buy a brand new car and keep it on permanent basis. We hope you find it useful.

Places to buy a car:-

New cars are generally sold by factory-authorized dealers that specialize in certain brands of cars through car finance facilities. In certain cities, big car marts offer a wide range of selection in terms of different brands of cars under a single roof, and these places offer good car finance loans. Some internet companies boast in offering the best possible price for your new car through their car loan programs. All new cars will have a summary note attached with the vehicle listing all the features and options offered by the particular model. It’s important to note that the price is usually negotiable, and that majority of the buyers always pay a lesser amount than the window sticker price. Used cars are also available from new car dealers, and from independent used car lots as well as private individuals. These places provide attractive car loan rates. Used car lots offer older vehicles at attractive prices with a limited warranty attached to the price tag.

How to find your car?

Newspapers always display advertisements for new as well as used cars offered for sale by the dealers, used car lots, and individuals wanting to dispose off their existing vehicles. The Sunday edition generally advertises the biggest selection. Many internet sites also list cars and their models for sale in various parts of the USA. In addition, car magazines present attractive adverts for used auto finance having low car loan interest rates.

Buying your car:-

The registration laws of motor vehicles keep on varying from state to state. However, most states require the owner of a motor vehicle to possess a car title or certificate stating the ownership registration with the state motor vehicle bureau. While buying your car, the seller needs to produce the car ownership papers. Generally, the buyer as well as the seller has to appear before a motor vehicle registration representative to make the sale official by signing the related papers. The state transport bureau later records the information. At the time of buying the car, whether through car loans or auto loans, the buyer is required to pay a registration fee and any sales tax for the purchase. The registration officials are available at all automobile club offices. It is not advisable to buy a car when someone offers to sell it without proper papers. Chances are you could be purchasing a stolen car.